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Goldman Sachs, Morgan Stanley, Bank of America and other Wall Street banks continued buying shares of the spot bitcoin exchange-traded funds on behalf of clients.While allocations barely changed, most likely due to uneventful price action in bitcoin, the fourth quarter could see renewed interest sparked by recent new all-time highs.Wealth management clients of Wall Street banks like Goldman Sachs, Bank of America and Morgan Stanley in the third quarter continued to modestly accumulate (or trade) bitcoin (BTC) via spot bitcoin exchange-traded funds. Given the huge spike in crypto prices following last week’s U.S. presidential election, it’s possible the action will…

The U.K. plans to draft a regulatory framework for the crypto industry by early next year, Economic Secretary Tulip Siddiq said at a conference.The rules will apply to stablecoins and staking services and will end months of uncertainty for the industry.The U.K. plans to draft a regulatory framework for the crypto industry by early next year, starting the process just as the European Union’s Markets in Crypto Assets (MiCA) laws kick in across the trading bloc.”We aim to engage firms on draft legal provisions for the crypto asset regime including stablecoins as early as possible next year,” Economic Secretary Tulip…

BlackRock’s first tokenized product, launched on Ethereum in March, is now accessible on the Aptos, Arbitrum, Avalanche, Optimism’s OP Mainnet and Polygon networks.BUIDL, the largest blockchain-based money market fund, is backed by short-term U.S. Treasuries and has $520 million of assets.BlackRock, the world’s largest asset-management company, said it is bringing its tokenized real-world asset fund to five more blockchains, taking it beyond Ethereum and expanding access to the largest money-market fund token.The BlackRock USD Institutional Digital Liquidity Fund (BUIDL), issued in partnership with tokenization platform Securitize, is now accessible on the Aptos, Arbitrum, Avalanche, Optimism’s OP Mainnet and Polygon networks,…

U.S. stock futures were struggling early Tuesday following record highs in the previous session.Dow Jones Industrial Average futures were flat. S&P 500 futures were edging up less than 0.1% and Nasdaq 100 futures were down 0.1%.The S&P and Nasdaq Composite hit new highs on the first trading day of December but will be tested this week by a series of economic data releases, culminating in the jobs report on Friday.“If you think the stock market’s strong fall was due to economic data hurdling fairly low expectations, then you’ve got to be a little skeptical heading into the winter. Yields show…

The S&P 500 and Nasdaq Composite were both headed for record closing highs on Monday, but things may get bumpier in the days ahead.The S&P 500 was up 0.3%, even though only 190 stocks in the index were on track to close higher. It was benefitting from solid gains from large technology stocks. So was the Nasdaq Composite, which was up 0.9%.On the flip side, the Dow was down 93 points, or 0.2%, with 18 of its 30 members set to close lower. The Dow lacks a handful of Magnificent Seven stocks, and the ones that are in the index…

US markets close mixed amid Iran intervention concerns US equity markets closed mixed on Friday in cautious trading ahead of potential US intervention in the Iran-Israel conflict. For the week, the US 500 (S&P 500) finished 0.15% lower, while the US Tech 100 (Nasdaq 100) fell 0.02% and the Wall Street added 9 points (0.02%). US strikes Iranian nuclear sites over weekend These concerns proved well-founded after the US conducted strikes with B-2 Stealth Bombers on three Iranian nuclear sites over the weekend and has since claimed the attacks “obliterated” Iran’s nuclear capabilities. The US insists the strikes were aimed at halting…

What Is Bitcoin? Bitcoin (BTC) is a cryptocurrency (a virtual currency) designed to act as money and a form of payment outside the control of any one person, group, or entity. This removes the need for trusted third-party involvement (e.g., a mint or bank) in financial transactions. Bitcoin was introduced to the public in 2008 by an anonymous developer or group of developers using the name Satoshi Nakamoto. It has since become the most well-known and largest cryptocurrency in the world. Its popularity has inspired the development of many other cryptocurrencies. Read on to learn more about the cryptocurrency that…

00:00 Speaker A One red flag that Goldman Sachs highlighted over the weekend, narrow market breadth. Uh, break that, uh, what that actually means and is it a red flag to you? 00:14 Michelle Schneider Well, what they’re referring to is only 63% of the market is over the 200 day moving average. And so we have another to overuse a word that we’ve seen a lot in the first half of 2025, bifurcation potentially happening. And I think that that could be a concern. Um, but there are certain factors obviously from a technical standpoint we have to watch.…

00:00 Josh Lipton Federal Reserve chair Jerome Powell, speaking in Portugal on Tuesday, told a gathering held by the European Central Bank that the US Central Bank may have changed their plans for the fight against inflation if not for the president’s trade deals. Yahoo! Finance’s Jennifer Schonberger has more. 00:18 Jennifer Schonberger Hey there, Josh. Fed chair J. Powell didn’t take a rate cut off the table for the Fed’s next policy meeting later this month. And as you said, said that if it weren’t for tariffs, the Fed would already be cutting rates. 00:31 Jerome Powell and on…

US stocks mostly rose on Friday as investors digested the last monthly jobs report of the year, a crucial test of the prospects for interest rate cuts in December and beyond. The Dow Jones Industrial Average (^DJI) lost about 0.3%, while the S&P 500 (^GSPC) rose roughly 0.3%. Meanwhile, the tech-heavy Nasdaq Composite (^IXIC) increased 0.8% as Amazon (AMZN), Apple (AAPL), and Meta (META) gained, tapping all-time intraday highs. The daily results of the major gauges also reflected their weekly performances. The Dow shed 0.6% for the week, while the S&P 500 gained close to 1%. The Nasdaq climbed more…